In an eleventh hour weekend move, the car rental company Hertz filed for bankruptcy, sending its shares for a lovely ride:
I’m curious what stands to follow, especially as many states continue their draconian frighten in place orders despite the economic bleeding. The travel industry and airlines might raise particular concern, but even some restaurants could hit the chopping block due to their brick and mortar ways. And that’s all excluding oil, which has a lot of livelihoods attached to it throughout various parts of the U.S.
If nothing else, this crisis should inform politicians of how fragile the financial web remains in our country. Sending over thirty million to the welfare rolls in order to save them from the invisible enemy strikes the mind as nanny state idiocracy, which we surely don’t have in America. After all, this is the greatest country on earth.
Right?
ECONOMIC COMMANDER 